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Published on 11/1/2006 in the Prospect News PIPE Daily.

New Issue: Takoradi settles A$1.2 million private placement of shares

By Laura Lutz

Des Moines, Nov. 1 - Takoradi Ltd. completed a private placement for A$1.2 million.

The company sold 120 million ordinary shares at A$0.01 each.

Proceeds will be used for working capital and debt retirement.

Takoradi is a Sydney, Australia-based mineral exploration company.

Issuer:Takoradi Ltd.
Issue:Ordinary shares
Amount:A$1.2 million
Shares:120 million
Price:A$0.01
Warrants:No
Settlement date:Nov. 1
Stock symbol:Australia: TKG
Stock price:A$0.01 at close Nov. 1

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